JIASHAN, China (
) -- The action on the cheaper Chinese shares in the solar sector has been fast and furious this week, and Wednesday morning was adding more fire to the heat being generated by the cheaper Chinese solar plays.
On Wednesday morning, Morgan Stanley upgraded
to overweight, sending ReneSolar shares up more than 11% in early trading. Twice the average number of daily RenSola share volume had been achieved within an hour of the market's opening on Wednesday.
The first two days of the week highlighted the astronomic rise of
, and one of the primary reasons highlighted for
JA Solar's spike was its price relative to the other Chinese solar companies, many of which had been on multi-week run-ups throughout the second half of November.
ReneSola is also among the cheapest of the solar Chinese names, with a share price of $4.50 at the close yesterday -- after the first hour of trading on Wednesday morning, ReneSola had gained close to 50 cents.
had also been among the biggest gainers on Tuesday, and at $4.53, is priced similarly to ReneSola and JA Solar. China Sunenergy was up more than 2% in early trading on Wednesday.
-- Reported by Eric Rosenbaum in New York.
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